Riyadh, December 5, 2022, SPA — The Saudi Central Bank (SAMA) seeks public consultation on the draft “Rules for Advertising Products and Services Provided by Financial Institutions”. In the interest of transparency and wider participation, SAMA invites stakeholders and public to provide suggestions and observations on the draft by visiting the Public Consultation Platform with the National Competitiveness Center.
The step comes in continuation with SAMA’s keenness to raise confidence among financial institutions and customers, protect customers from misguidance, and enhance the principles of transparency and disclosure.
SAMA indicated that these Rules aim at establishing a regulatory framework for which financial institutions must adhere when advertising financial products and services.
Finally, participants are expected to provide their input on the draft within (15) days from this publication, for assessing its relevance in finalizing the text. The draft is available on the Public Consultation Platform with the National Competitiveness Center (https://istitlaa.ncc.gov.sa/ar/Finance/SAMA/RulesForAdvertising/Pages/default.aspx).
–SPA
12:46 LOCAL TIME 09:46 GMT
0011